Wall Observer BTC/USD - Bitcoin price movement tracking & discussion

[lost_in_base]

Good to see that the price has recovered well after the recent dump, lowest I saw was in the $2100's range. We are now up to $2540 on Bitstamp so the question I want to ask is who are the weak hands who sold at the bottom?

Yep I was thinking that we were going to have one more leg to the dump (correction), and in the past 12 hours or so, I have becoming a bit more inclined to believe that there might not be a third leg.  We just got two legs.

Also, I do not sell on the way down, I buy, but since I thought that there might be a third leg down, I held back a bit on buying as much, just in case.

We are not out of the woods, yet, so we could still have a third downward leg, but the odds seem to becoming less and less especially given the seemingly pretty decent onwards and upwards buying pressure, and if we get above $2600, then it going to seem pretty probable that we are back on track to test $3k.

Actually, it is going to be a bit difficult for this week's candle to turn out green.  In order to close green, we have to be above $2,960 at midnight GMT.  What are the odds?  less than 30%?  I wonder?  Would be pretty bullish if this week's candle ended up green, no?

30% I think is very high. I'd say more like 5%

Hahahahaa..   I understand that you want to be conservative in your estimations, but

What a pessimist!!!!
 

I could give you 15% or 20%, but 5%?  I know that you are not a bear, but isn't that a bit too low?

2960? i would see odds 10-15%, imo this run will stall and correct down from not higher than 2800-2850 (if it gets there at all)

Fair enough.

As I type, we only have about 37 hours until this week's candle closes.. so yeah, it would be really fucking bullish or even possibly overheated if we were to achieve green for the week.

Sounds unrealistic(under 37h) but big investors may want to see that green candle and they have the power to do so..
If one can make price crash with only one post(bitmain) imagine what could be done with second post!

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[bitserve]

Litecoin heading to a new ATH after 4 years...

Volume traded past 24h bigger than BTC at $1.4Billion

Also, unlike what usually happen with ETH, LTC rise isn't harming BTC the slightly, it is even rising at very good rate.

[lost_in_base]

Stamp breaking 2600, soon the pain will ease.

OKCoin is going to break 2900, 2830 2850 currently and going to the moon.

That 7d candle may actually turn to green!

[JayJuanGee]

Good to see that the price has recovered well after the recent dump, lowest I saw was in the $2100's range. We are now up to $2540 on Bitstamp so the question I want to ask is who are the weak hands who sold at the bottom?

Yep I was thinking that we were going to have one more leg to the dump (correction), and in the past 12 hours or so, I have becoming a bit more inclined to believe that there might not be a third leg.  We just got two legs.

Also, I do not sell on the way down, I buy, but since I thought that there might be a third leg down, I held back a bit on buying as much, just in case.

We are not out of the woods, yet, so we could still have a third downward leg, but the odds seem to becoming less and less especially given the seemingly pretty decent onwards and upwards buying pressure, and if we get above $2600, then it going to seem pretty probable that we are back on track to test $3k.

Actually, it is going to be a bit difficult for this week's candle to turn out green.  In order to close green, we have to be above $2,960 at midnight GMT.  What are the odds?  less than 30%?  I wonder?  Would be pretty bullish if this week's candle ended up green, no?

30% I think is very high. I'd say more like 5%

Hahahahaa..   I understand that you want to be conservative in your estimations, but

What a pessimist!!!!
 

I could give you 15% or 20%, but 5%?  I know that you are not a bear, but isn't that a bit too low?

2960? i would see odds 10-15%, imo this run will stall and correct down from not higher than 2800-2850 (if it gets there at all)

Fair enough.

As I type, we only have about 37 hours until this week's candle closes.. so yeah, it would be really fucking bullish or even possibly overheated if we were to achieve green for the week.

Sounds unrealistic(under 37h) but big investors may want to see that green candle and they have the power to do so..
If one can make price crash with only one post(bitmain) imagine what could be done with second post!

I hear what you are saying regarding the upside; however, regarding the downside and the spreading of FUD, the FUD tends to be less effective once it already gets priced in.  So, what are they going to say, and will they be willing to play such a card at this time, rather than waiting for a "better" opportune time? 

[becoin]

Stamp breaking 2600, soon the pain will ease.

What pain? It's a pleasure to buy cheap coins. The cheaper the better!

[bitserve]

Stamp breaking 2600, soon the pain will ease.

OKCoin is going to break 2900, 2830 2850 currently and going to the moon.

That 7d candle may actually turn to green!

I would prefer if this candle finish being red at around $2800. That way I won't have to hear for some time that argument about the 9 green candles in a row.

[JimboToronto]

Good morning Bitcoinland.

I see we're continuing the long climb back up from last week's correction and Bitmain HF panic... currently $2592USD (Bitcoinaverage).

Looks like we'll finally have a red weekly candle but at least it'll be a fairly short one.

Go Bitcoin go.

[lost_in_base]

Stamp breaking 2600, soon the pain will ease.

What pain? It's a pleasure to buy cheap coins. The cheaper the better!

Cheap coins are already tanked in at 2100-2200 range.

[Richy_T]

I suggest you learn the difference between education and intelligence.

And there you go again. I'd tell you where to stick your condescension but I think you get the idea.

Can you explain how higher fees are devastating for the small miner?

A small miner will often receive his fees in small amounts meaning that to spend it, he will need to use funds from many transactions. A high fee per byte can mean those funds become unprofitable to mine (if you're not a big miner with access to cheap electricity) or even cost more to spend than their value (this is not just true for mining funds. High fees have meant a lot of Bitcoin's total value is now worth less than it would cost to spend). This is especially true for p2pool (a truly decentralized pool) where miners are paid directly from the coinbase.

[STT]

Seems like a reasonable retrace of the fall.  Its beaten the downtrend which was a ceiling for some hours yesterday evening.   Seems to have then reasonably confirmed those prices as a low and is now near $2700 again.   I think it'll probably rest in this area and anywhere above 2470 is bullish action.  Short, medium and longterm bullish cant be complained about and if 7 day candle is red I dont count that especially except as consolidation.  

Kraken is no long following its initial positive trend from the bottom, a looser slower trend might be there.  2300 as a ceiling, fib line seems evident

Becoin you made me think I had a bug on my screen congrats :p

[DanielRamos1]

BTCBTCBTCBTCBTC another bump up towards PLANET X>.>WEEEEEEEEE..tbc!!    //^$3000 inkominggggg<<<

hint**===>

https://www.youtube.com/watch?v=aaBikrBZt2w

Why do you keep changing accounts? Maybe you should change that cryptic style of posting too so that it isn't that obvious.  Most of time it doesn't make any sense anyways.

bitcoin is immutable and free of banking cartel censorship   #hodL BTCBTCBTCBTCBTCBTC

[Meuh6879]

Looking very good, recovery fast ...

[spooderman]

well i think we started the week at about $2900 so very difficult not to get a red candle this time

[xyzzy099]

A small miner will often receive his fees in small amounts meaning that to spend it, he will need to use funds from many transactions. A high fee per byte can mean those funds become unprofitable to mine (if you're not a big miner with access to cheap electricity) or even cost more to spend than their value (this is not just true for mining funds. High fees have meant a lot of Bitcoin's total value is now worth less than it would cost to spend). This is especially true for p2pool (a truly decentralized pool) where miners are paid directly from the coinbase.

I don't think I understand what you are saying here...  If you are referring to transaction fees, all transaction fees are included in the single coinbase transaction along with the block subsidy.  If you mean by 'receive his fees' the individual payouts hash providers get from pools, every pool I ever mined at other than p2pool allow the miner to set their minimum payout to any size they want as long as it is above some minimum.

[keithers]

BItcoin looks to be recovering a bit today. LTC is on a tear (for Litecoin of course). While everything has been volatile again at the end of the week zcoin has made very little headlines with its big gains.

I would like to see Bitcoin make it back to steady $2700s again...

[HI-TEC99]

BItcoin looks to be recovering a bit today. LTC is on a tear (for Litecoin of course). While everything has been volatile again at the end of the week zcoin has made very little headlines with its big gains.

I would like to see Bitcoin make it back to steady $2700s again...

There seems to be a pattern of weekend Bitcoin pumps developing, as opposed to the weekend dumps we used to get. I still don't understand the reason for it as no fiat gets sent to exchanges while the banks are closed over the weekend.

[BlackFlag]

BItcoin looks to be recovering a bit today. LTC is on a tear (for Litecoin of course). While everything has been volatile again at the end of the week zcoin has made very little headlines with its big gains.

I would like to see Bitcoin make it back to steady $2700s again...

There seems to be a pattern of weekend Bitcoin pumps developing, as opposed to the weekend dumps we used to get. I still don't understand the reason for it as no fiat gets sent to exchanges while the banks are closed over the weekend.

trough the previous dump there is a lot of money on the exchanges, so no need for new money to pump

[TeeBone]

Litecoin mooning. Havent heard that in a while. Congrats to litecoin hodlers, i dont own any but if any alt were to rise im glad its litecoin and not shitcoins like ETH and Ripple.

[Torque]

Litecoin mooning. Havent heard that in a while. Congrats to litecoin hodlers, i dont own any but if any alt were to rise im glad its litecoin and not shitcoins like ETH and Ripple.

Years ago back when I thought having an alt to Bitcoin might be a good idea, I had some litecoin. A ton of them, over 3000 in fact.

But after watching litecoin go nowhere for years and years, and zero community interest and merchant adoption at all, I traded the majority back into btc. Hell even the old litecointalk.org site completely died from dwindling traffic, and then got hacked. Now I have a wallet with something like ~60 LTC left, and I'm too lazy to even sync it with the network, lol.

I definitely think Litecoin is still going nowhere, just because it has Segwit now and potentially LN coming doesn't change a thing. No one liked it and no one cared...for years now. And in the last 4 years, Chinese exchanges have quietly mined millions of litecoins (because it was easy and cheap to do), and will happily let this rise for a while only to dumpity-dump dump their millions of litecoins slowly back into the market once a downtrend is confirmed. I've seen it before, and won't be a part of watching that again. The top 3-4 Chinese exchanges own collectively ~8M litecoin.

[HI-TEC99]

Now I have a wallet with something like ~60 LTC left, and I'm too lazy to even sync it with the network, lol.

You can send them to an exchange without syncing, provided your wallet is already synced enough to see its received your litecoins. Dump them for Bitcoin, you would get over a Bitcoin for them, and if you keep that Bitcoin for ten years it might be worth a million dollars.